One of the questions we hear most often is, “What does it take to be a successful trader?” George Gero shares five tips for success in this preview to May's Trading 101 article.
The net gold position of the four largest traders, which we can assume are all bullion banks, on May 14 was long for the first time for as long as records are available, shown in the chart below.
Marginal recovery following possible key reversal day suggests that short-term uptrend may be over.
With most of the Fed members still in Bernanke’s corner and the pattern of dip buying this year, many traders may look at this sell-off as an opportunity to buy into this market. What is the most effective way they can do so?